Telecoms firm eNet sold to US consortium
Telecoms firm eNet has been sold to an international consortium of telecoms and infrastructure investors for an undisclosed sum.
The company operates the State-owned Metropolitan Area Networks (MANs) infrastructure that provides 94 towns and cities across the country with an advanced technology network.
The consortium comprises Granahan McCourt, Oak Hill Advisors, and the family of Walter Scott Jr.
The business has been acquired from previous shareholders, including ACT Venture Capital and eNet founder, Michael Tiernan.
According to the company, the acquisition will have no impact on eNet’s day to day business or customers which include BT, UPC and Vodafone.
Conal Henry, CEO of eNet said: “The calibre of the new investors is a testament to eNet’s management of the MANs project to date and to the development potential of the MANs in the future.”
He added: “Furthermore, the new shareholders have a sophisticated understanding of the MANs and the open-access, carrier-neutral model and are prepared to continue to invest in its development.”